Hypothetical Direct Mailing Situation

[Theo Hicks]

We have recently compiled a list of 650+ direct mailing candidates for 2 or more unit properties in our target area. We are in the process of dropping off letters to the owner occupied properties and writing up the letters to mail out for the others.

Before we sent out a single letter, my partner was discussing his real estate passion with a work colleague (who we happened to be sending a letter out to) and he said he was in the processes of looking to unload his real estate portfolio (didn't have the will or the time to attend to the properties himself). So technically, we are currently 1/1!

My question is, if we happen to get an overwhelming response from motivated sellers:

1) How do we go about purchasing as many properties as possible?

2) How do we prioritize which properties to pursue aggressively?

My thoughts:

1) Attempt to purchase the turnkey properties using seller financing or lease-to-owner, or possibly a low money down Hard Loan. If we use the hard money loan, use the cashflow from the property, other properties we own, and our W2 earnings to refi into a conventional loan after the Hard loan expires

2) Compile a list of all the leads into an excel document, and determine 1) amount of cash down required 2) ROI and then start at the top of the list and work out ways down

We are currently focusing on consistent cashflow, so we would like to avoid wholesaling at all costs.

Any one out there that has used direct mailing and has received an overwhelming response care to shed light on how they went about acquiring the properties???